Monad's Parallel Execution and Optimistic Execution: Unlocking Speed and Efficiency in Blockchain Transactions
Posted January 20, 2025
In this series, we are continuing to look at cool aspects of Monad’s design. Previously, we covered Monad Pipelining.
In this article, we’ll cover Monad’s parallel execution.
Blockchains are permissionless global state machines, meaning there is a global state (the ledger) that anyone can update if they pay a fee. Updates to the ledger are transactions, and the process of completing these transactions is execution.
The Limitations of Sequential Execution in Ethereum
To understand parallel execution, the way that Monad does things, it is first helpful to look at Ethereum and its execution pitfalls. Ethereum uses sequential execution, meaning that transactions are executed one after another in the order they are included in each block. This design is the most simple. It ensures that each transaction is fully completed before the next begins, maintaining a consistent and deterministic state across the network. Ethereum transactions are strictly serialized.
While this sequential execution model is simple and predictable, it is very slow. As the raw number of transactions increases, processing each one individually and serially is a huge bottleneck. This leads to slower transaction throughput and higher fees. This limitation has prompted research into alternative execution models to make the chain faster.
Monad speeds up transaction throughput by implementing parallel execution within the Ethereum Virtual Machine. Unlike Ethereum’s sequential processing, Monad identifies independent transactions that can be executed simultaneously, thereby increasing efficiency without altering the linear order of transactions in a block.
Monad’s Optimistic Parallel Execution: A 10,000 TPS Revolution
To achieve this, Monad executes transactions optimistically, meaning the order of transactions is assumed valid. Transactions are initiated concurrently and their inputs and outputs are monitored for conflicts. If a transaction is found to have invalid inputs (for instance, it uses outdated data), it is re-executed with the correct information to ensure accuracy.
By leveraging parallel execution, Monad significantly boosts transaction speeds. How much faster? Well, the Monad team is running a local devnet that can handle 10,000 transactions per second. This is about 1000x faster than Ethereum itself! On top of this, Monad retains full EVM compatibility, meaning that all Ethereum programs can be run on Monad.
Monad will have a great ecosystem of applications that can support many users expecting great performance. To ensure Monad’s success, it’s important that Monad has lots of liquidity on the chain. Kintsu is a fully decentralized liquid staking platform working hard to ensure that Monad’s base token is fully liquid, allowing users to earn the rewards of staking and contribute to security while still retaining liquidity.
Conclusion
Monad’s implementation of parallel and optimistic execution is a groundbreaking step forward in blockchain scalability. By tackling the inefficiencies of sequential execution and introducing conflict monitoring with parallel processing, Monad is set to deliver speeds that dwarf existing EVM standards. Achieving 10,000 transactions per second is not just a technical milestone but a game-changer for decentralized applications and users who demand fast and efficient blockchain solutions.
As Monad builds its ecosystem, Kintsu is proud to play a role in ensuring liquidity and security through its decentralized liquid staking protocol. Together, Monad’s innovations and Kintsu’s contributions are shaping a vibrant and high-performance DeFi landscape for users and developers alike.
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